Hey everyone, Curious to know if anyone has gone for a commercial loan on a residential (1- or 2-unit) house before. Any strong reactions for or against this? Residential mortgage isn't an option at the moment, but we have a place purchased with cash that we're planning to BRRRR. Cheers, Colin

Thanks for a great live session today everyone. Today's homework is: 1. Contact the local credit union in the market you're searching, and see if they can give you a Debt Service Coverage Ratio (DSCR) and Loan-to-value (LTV) parameter for what they'd loan to you for an investment property. (If you can't reach them, just use 1.25 DSCR) 2. Calculate the DSCR for 3 of the listings on your shortlist. 3. Highlight a deal if it hits the DSCR criteria of the lender. Please post a screenshot of #2 and comment "DONE" in this thread.

Thanks to all who attended todays live session! The homework is to analyze and list 5 deals with cap rates - take these from the list that you have done already for the GRM deals. This is NOI divided by the Purchase Price Please Provide a Screenshot of your deals! The paperclip button in the bottom right corner of the comment box will allow you to add attachments. This is 1) An accountability measure to make sure you're actually going through the reps. 2) Required if you want your completion to count towards the draw! Feel free to look anywhere in the country & put the Door Insight AI tool to work! See you tomorrow

Thanks to all who attended todays live session - The homework is to analyze and list 10 deals using GRM ( Gross Rent Multiplier), which is Property Price / Annual Gross Income Please Provide a Screenshot of your deals! The paperclip button in the bottom right corner of the comment box will allow you to add attachments. This is 1) An accountability measure to make sure you're actually going through the reps. 2) Required if you want your completion to count towards the draw! Feel free to look anywhere in the country & put the Door Insight AI tool to work! See you tomorrow

Thanks for joining, were super excited to have you here. The purpose of this group and challenge is to help you break out of the habit of consuming information without taking action. Great deals are just around the corner and some are already happening, so now is a perfect time to switch from a season of information gathering into a season of action. To take part in this challenge, watch this brief video attached, then return to read the following steps! 1) Watch the video below if you haven't yet. 2) Comment on this post with a brief description of who you are, where your coming from, and when your looking to invest! Include a link to your social media as well for networking. 3) Navigate to the calendar and mark the live call times in your calendar. If you can't make the live call times, the recordings will be posted under the classroom tab within 24 hours. Whoever posts their proof of work homework on the follow up posts before the March 9th 5:00PM deadline will be entered into the draw. We'll explain further after the first challenge call on Mar. 4th at 12:00PM Looking forward to chatting with everyone again soon.